Australian (ASX) Stock Market Forum

Gold Price - Where is it heading?

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ducati916 said:
Gold

View attachment 151454View attachment 151453View attachment 151452View attachment 151451View attachment 151450

Wait, there's more!

Mr McLeod:

kingworldnews.com

Macleod - This Is The Word Out Of Asia As Gold Price Approaches $1,900 - King World News

Today London analyst Alasdair Macleod spoke with King World News about what he is being told by his contacts in Asia as the price of gold approaches the $1,900 level.
kingworldnews.com kingworldnews.com

The rise of gold into a hiking environment from the Fed. is/was the signal that a huge surge from gold is on the cards.

View attachment 151455

The ETFs are actually selling gold as the price rises. This is the exact opposite of how they 'should' operate. It is more easily seen with silver.

View attachment 151457View attachment 151456

It is also happening with gold.

Simply, the BBs responsible for suppressing the 'paper price' need to hold as much physical as possible to contain the leverage. With CBs buying so much, Russia and the Saudi's pushing oil for gold, the physical is fast disappearing and needs to be supplemented from the ETFs that hold physical. Hence, as the price rises, sales of physical from the ETFs will also rise.

jog on
duc
Click to expand...
Exactly my thinking duc, but I don't have the eloquence to put it as you have.

I'm actually looking to add.

gg
 
Sean K said:
Truly is a beautiful thing. Where is support on the inevitable pull back? Maybe $1850-70 zone. Or, does gold just go straight to $10K?

View attachment 151614
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@Sean K and @Telamelo . While I agree that Gold will find support at some stage above $USD1900 a quick move to $USD2000 requires a further collapse in the BTC price.

While Gold has made impressive gains over the past week, so has BTC.

Once the Tulip withers in the vase, probably with massive selling closer to BTC = $USD 20,000 then guys like Kevin O'Leary who have lost their pants on BTC and are manipulating by shorts and longs and recover part of their "losings", then Gold will push past $USD2000.

Just a comparo on BTC/Gold to illustrate. The price rise in BTC is unsustainable with so much "odeur de fleur rassis", and the bulls are very bullish on Gold.

1673559882108.png

gg
 
1900 is still providing some resistance, not surprising given that it's a major technical zone, and may have therefore needed a greater-than-expected drop in the US CPI.

Any pullback from here could first look to find support around 1860, but all trading carries risk, and it will be interesting to see if today's inflation numbers are in fact enough to fuel a breakout above 1900... at least near-term.
 
Nouriel Roubini says gold may be your best protection as the mother of all debt bombs is looming.

“Mega threats” are hurtling towards the world including war, debt crises, and a demographic “time bomb” will make investors flock to gold, hence causing the yellow metal’s price to rise to $3,000 oz by 2028, according to Nouriel Roubini, CEO of Roubini Macro Associates and Professor Emeritus at NYU Stern School of Business.

“Over the next few years, I would expect that gold could have high single-digits into low double-digits rates of return,” he said. “I expect… rates of return around 10 percent per year over the next five years.”
Inflation, stagflation, and a trend towards ‘de-dollarization’ will be the main drivers.

“If the rivals of the U.S. have to diversify away from dollar assets because we weaponize the dollar and sanctions can be imposed, then the only international reserve asset that cannot be seized by the U.S. and the West is not the dollar, Euro, yen, or pound,” he said. “It can only be gold.”

He forecast gold to rise by 10% per year over five years, resulting in a gold price of over $3,000 per ounce, an overall return of 60%.

Roubini, also known as ‘Dr. Doom’ for his grim economic forecasts and for correctly predicting the 2008 financial crisis before it occurred, said that a “stagflationary depression” could begin in 2023, which would cause both stocks and bonds to decline.

“If I am right, that we will have a hard landing, that inflation is going to be persistent, and that central banks are in a dilemma, [then] both equities and bonds will do poorly,” he predicted. “Gold should do better because… it is a hedge against inflation. It is also a hedge against financial instability, and a hedge against social, political, and geopolitical stability.”

 
Telamelo said:
Nouriel Roubini says gold may be your best protection as the mother of all debt bombs is looming.

“Mega threats” are hurtling towards the world including war, debt crises, and a demographic “time bomb” will make investors flock to gold, hence causing the yellow metal’s price to rise to $3,000 oz by 2028, according to Nouriel Roubini, CEO of Roubini Macro Associates and Professor Emeritus at NYU Stern School of Business.

“Over the next few years, I would expect that gold could have high single-digits into low double-digits rates of return,” he said. “I expect… rates of return around 10 percent per year over the next five years.”
Inflation, stagflation, and a trend towards ‘de-dollarization’ will be the main drivers.

“If the rivals of the U.S. have to diversify away from dollar assets because we weaponize the dollar and sanctions can be imposed, then the only international reserve asset that cannot be seized by the U.S. and the West is not the dollar, Euro, yen, or pound,” he said. “It can only be gold.”

He forecast gold to rise by 10% per year over five years, resulting in a gold price of over $3,000 per ounce, an overall return of 60%.

Roubini, also known as ‘Dr. Doom’ for his grim economic forecasts and for correctly predicting the 2008 financial crisis before it occurred, said that a “stagflationary depression” could begin in 2023, which would cause both stocks and bonds to decline.

“If I am right, that we will have a hard landing, that inflation is going to be persistent, and that central banks are in a dilemma, [then] both equities and bonds will do poorly,” he predicted. “Gold should do better because… it is a hedge against inflation. It is also a hedge against financial instability, and a hedge against social, political, and geopolitical stability.”

Click to expand...

I listened to Mr Roubini on the Odd Lots podcast recently.

To say his outlook is dour would be an understatement.

If you own gold and you want to see its value go up because you think the world is f***ed, I feel bad for your daily existence.

Be an optimist. Hedge your optimism with gold or bonds or whatever you like. Sleep easy and have a good daily existence.

I'd prefer to be wrong on my hedges.
 
InsvestoBoy said:
I listened to Mr Roubini on the Odd Lots podcast recently.

To say his outlook is dour would be an understatement.

If you own gold and you want to see its value go up because you think the world is f***ed, I feel bad for your daily existence.

Be an optimist. Hedge your optimism with gold or bonds or whatever you like. Sleep easy and have a good daily existence.

I'd prefer to be wrong on my hedges.
Click to expand...
Mr Roubini is a perma bear like another commentator Peter Schiff and Harry Dent, always predicting the worse will happen. They will be right one day but for now but for now l‘m ignoring the doom and gloomers.
 
ducati916 said:
Possibly an under-appreciated headline:

View attachment 151293View attachment 151292

Which of course also means eliminating UST as a reserve asset.

The Saudi's are also playing this game:

View attachment 151294

Again, under-appreciated.

While (most) eyes are on the Ukraine, the currency war goes largely un-reported. It is the currency war that will have the greatest repercussions for the little guy unless of course the hot war goes nuclear.

jog on
duc
Click to expand...
now the interesting bit is .... how much gold does China and Russia produce that never gets to the 'free markets' ( gobbled up by their respective Central Banks ) ( and is less likely to be accurately reported )
 
DannyB0000 said:
Mr Roubini is a perma bear like another commentator Peter Schiff and Harry Dent, always predicting the worse will happen. They will be right one day but for now but for now l‘m ignoring the doom and gloomers.
Click to expand...
it's easy to be a 'perma-bear ' when various governments lie to you habitually ( relying on the excuse you can't handle the truth )
 
Sean K said:
This is obviously unsustainable, but hey, I'm a gold bull, so I'll be happy when it stops at $10K.

Uber drivers will be running out and buying gold bars soon.

View attachment 151676
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Lol about uber driver's buying gold bars soon haha ? but a ring of truth about it because watch the mainstream/herd come into/chase gold soon imo :)
 
During 2022, Central banks bought up gold at the fastest pace since 1967.

The World Gold Council in November estimated that central banks had since January acquired 673t, but that is an estimate because we don’t know if there were gold purchases that have not been disclosed.

China and Russia are the main suspects when it comes to piling up gold reserves without making it public. China bought 32t in December, taking the country’s total holdings to 1,190t. However, it is now widely accepted that the Chinese buy figure in December was closer to 300t.

Turkey, Uzbekistan and others were buying with their ears pinned back. Qatar doubled its hold reserves.

Certainly, Banca Italia, the Italian central bank, is a big believer in gold — it holds 2,451t. Only the US and Germany own more (and presumably so does China if it owned up to the real size of their stash).

Banca Italia makes no secret of its enthusiasm for gold, with the following posted on its website:

“Gold is an excellent hedge against adversity. Another good reason for holding a large position in gold is as protection against high inflation since gold tends to keep its value over time.”

smallcaps.com.au

Gold 2023 — can it breakout at last?

Inflation was subdued in 2020 and not an issue, yet in August that year gold hit its highest ever price of US$2,075.88 per ounce. In 2022, with inflation
smallcaps.com.au smallcaps.com.au
 

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